The world's richest man has some huge plans in Texas, including a potential lithium factory on the Gulf Coast.
The latest expansion plans include a sprawling Travis County campus for brain-computer interface startup Neuralink Corp. and a potential lithium battery plant for Tesla Inc. near Corpus Christi.
Tesla's Nueces County facility would process raw ore material into a usable state for battery production, the company said. The final product, lithium hydroxide, will be transported to Tesla's manufacturing sites for EV batteries. "In the case of the investment on this proposed project in Texas, the decision will be based on a number of commercial and financial considerations, including the ability to obtain relief regarding local property taxes," Tesla said in its incentives application.
If the incentives are ultimately approved and the project proceeds as described, Tesla could save an estimated $16.2 million on its property taxes over that 10-year span, according to an analysis conducted by Austin Business Journal. That estimate is based on projections of the future land value and doesn't take into account any potential changes to Robstown ISD tax rates.
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